Elusive Stability: Essays in the History of International Finance, 1919 1939

Beschreibung

Beschreibung

This volume provides a new interpretation of the operation and macroeconomic repercussions of the international monetary system during the interwar years. Each of the eleven essays is explicitly concerned with the role of exchange rates in macroeconomic fluctuations from the American and European perspective. The final essay examines interwar experience from a long-run perspective.

Inhaltsverzeichnis

List of tables; List of figures; List of charts; Acknowledgements; 1. Introduction; 2. Real exchange rate behavior under alternative international monetary regimes; 3. Understanding 1921-27: inflation and economic recovery in the 1920s; 4. Bank rate policy under the interwar gold standard with Mark W. Watson and Richard S. Grossman; 5. The Bank of France and the sterilization of gold, 1926-1932; 6. International policy coordination in historical perspective: a view from the interwar years; 7. The economic consequences of the Franc Poincare with Charles Wyplosz; 8. Sterling and the tariff, 1929-32; 9. Exchange rates and economic recovery in the 1930s with Jeffrey Sachs; 10. The gold-exchange standard and the Great Depression; 11. Hegemonic stability theories of the international monetary system; Notes; References; Index.

Pressestimmen

' ... new, impressive, and illuminating collection of essays from Professor Eichengreen ... His method of argument is rigorous and detached; and the algebra is happily not allowed to overwhelm the sense.' Douglas Jay, Financial Times 'This elegant and useful book belongs on the shelf of all serious students of twentieth-century monetary and financial history.' Journal of Interdisciplinary History 'This book is well written ... No other modern work covers this subject. A student with some knowledge of international finance could follow the argument even without the mathematical and statistical background required to evaluate the models that summarize the basic argument of each chapter.' Choice